Yellen: Inflation likely to come down on lower supply chain pressures, shipping costs

U.S. Treasury Secretary Janet Yellen said on Thursday that supply chain pressures and shipping costs were coming down and were eventually likely to bring down inflation. She also said a debt default would undermine the U.S. dollar's reserve currency status and that a failure to raise the debt ceiling would lead to a recession or worse.

Yellen made the remarks in a U.S. House of Representatives Appropriations subcommittee hearing.

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